{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurusd-encounters-solid-resistance-at-a-significant-support-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurusd-encounters-solid-resistance-at-a-significant-support-level\/","headline":"EURUSD Encounters Solid Resistance at a Significant Support Level","name":"EURUSD Encounters Solid Resistance at a Significant Support Level","description":"EURUSD Analysis \u2013 Price Encounters Solid Opposition to Its Downflow at 1.12020 EURUSD encounters solid opposition to its downflow at the 1.2020 significant support level. Price broke the immediate price line before this support line on the 16th of November. A further pullback then crashed the market to the support level at 1.12020. EURUSD is […]","datePublished":"2021-12-13","dateModified":"2021-12-13","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/12\/EURUSD-1Day-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/12\/EURUSD-1Day-1.png","height":746,"width":1801},"url":"https:\/\/forexschoolonline.com\/eurusd-encounters-solid-resistance-at-a-significant-support-level\/","about":["Article","Article-com","charts","EUR\/USD","Featured Articles","FX Technical Analysis","Price Action Charts in Focus","Support & Resistance","Trade Idea","Trade Setups"],"wordCount":324,"keywords":["Daily Chart","EURUSD","forex price action","FX Technical Analysis","Market Anticipation"],"articleBody":"EURUSD Analysis \u2013 Price Encounters Solid Opposition to Its Downflow at 1.12020EURUSD encounters solid opposition to its downflow at the 1.2020 significant support level. Price broke the immediate price line before this support line on the 16th of November. A further pullback then crashed the market to the support level at 1.12020. EURUSD is immediately rebuffed as it encounters this significant level. In the next few days that follow, the market is left hanging between the two key levels as bearish pressure tries to match solid market support.EURUSD Significant LevelsResistance Levels: 1.22620, 1.19030, 1.17130Support Levels: 1.15180, 1.13840, 1.12020EURUSD began a decline after it hit a price line at 1.22620 that proved impenetrable. The market began a swift descent, falling below 1.20630 and 1.19030 till it found a foothold at 1.17130. And even that would be temporary as 1.19030 turned into a new resistance for the price. This then led to a further drop. A retest of 1.17130 finally sank the market through a more significant level to reach 1.12020.The total price decrease from 1.22620 on the 1st of June to 1.12020 on the 24th of December stands at 8.60%. The market is now showing signs of a price rebuff at the solid support level. The Parabolic SAR (Stop and Reverse) has switched its dots underneath the daily candles on the 26th of December to show a definite uplift in the market. The RSI (Relative Strength Index) shows the same upward progress even though it has now stalled just below the 50 mark.Market AnticipationOn the 4-hour chart, the bulls are seen to be making more progress. There was an initial bounce up using a double bottom pattern. The RSI line has crossed the middle level at 50 and the signal line is now in bullish territory. Currently, the price remains suspended between 1.13840 and 1.12020 as it keeps ranging.Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}